Keynes'Employment Function

Abstract

I fully agree with E. R. Weintraub on the two main points: (i) Wells is correct in substance in rejecting those interpretations of the General Theory that attribute to it a “labor demand” function identical to the marginal product of labor ~chedule;(~ii ) but Wells’ equations permit the interpretation that he wants to exclude, and his accompanying verbal argument is not likely to convince the authors that he criticizes...